Tag Archives: Agents & Brokers

On Monday the National Association of Home Builders reported an increasingly sunny outlook among single-family homebuilders, with a Housing Market Index jointly released by Wells Fargo signaling a 13-point rise in homebuilder confidence-an uptick from the three-point plunge in June. In July two of the three indexes saw surges, up from steady declines over May. Current sales conditions went up to 15 from two points-the same as in May-as sales expectations for the next six months jumped by 22 points.

President Barack Obama announced Sunday that he would withdraw Treasury Department advisor Elizabeth Warren for the top post at the Consumer Financial Protection Bureau and replace her with Richard Cordray.

The numbers are in, and New York tops the list of states boasting the highest mortgage closing costs nationwide. The results of the Bankrate, Inc. survey demonstrate New York├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós dubious dominance in closing fees for the second straight year. Other high-cost areas rounding out the top five? Texas, Utah, San Francisco, and Idaho. Nationally, the total cost of origination and title fees has risen since last year by 8.8 percent, to an average cost of $4,070 on a $200,000 mortgage.

Fueling fears about a federal default scenario, fragile debt-ceiling negotiations continued to splinter and stagnate this week, with Republicans refusing to budge on proposed tax increases and Democrats fighting to keep entitlements off the chopping block. If trends continue and the federal government defaults on its national debt, housing economists and mortgage rate analysts predict spikes in interest and mortgage rates, with steep and potentially catastrophic declines in homes sales.

A monthly update from Capital Economics holds that small upticks in home prices and sales reflect anomalous behavior in the market, thanks in part to a generous seasonal uplift. The report predicts continued falls in home sales.

According to an announcement made Tuesday, WFG National Title Insurance hailed move-ups by two to its Louisiana agency division. Stephen Sklamba and Liz Pecoraro will take on new roles as VP and underwriting counsel and state sales manager, respectively. Stephen and Liz are well-established and highly regarded by a wide number of independent agencies in Louisiana, Charles Cain, SVP and agency manager, their new boss, said in a statement.

In a statement released Thursday, Global DMS announced that the Uniform Collateral Data Portal would now offer its appraisal process management software to lenders and appraisal companies.

Twelve defendants appeared in court around the country this week to answer for charges related to mortgage fraud, conspiracy to commit mortgage fraud, and making false information to financial institutions, among others. The estimated combined losses for lenders and families: some $12.4 million. Unaccounted-for: the number of delayed dreams, shattered finances, and lives adversely impacted by the crimes, alleged and otherwise. Several news agencies reported the news.

In a statement, TD Bank announced the creation of a step-by-step kit that it dubs the First Time Homebuyer Kit, a program that will guide first-time homebuyers through the homeownership process.

With less than two weeks to go before the Consumer Financial Protection Bureau launches, Treasury Department adviser and nominee Elizabeth Warren plans to attend the House Oversight Committee for the last time on Thursday, giving her Republican opponents one final opportunity to lob critiques at her brainchild before it assumes consumer financial protection authority. Analysts across the spectrum seem to agree that Warren will face yet another challenge from Republicans, who fear numerous transfers of authority from seven agencies will tip the scale between regulation and economic recovery.